Question

Thornton Corporation uses the indirect method to prepare its statement of cash flows. Data related to cash activities for last year is as follows:Net income..................................................................................... $ 92,500 Dividends paid (cash)..................................................................... $ 50,100 Depreciation expense.................................................................... $ 14,000 Net decrease in current assets....................................................... $ 21,700 Issued new notes payable for cash................................................ $ 41,700 Paid cash for building..................................................................... $ 271,000 Net decrease in current liabilities................................................... $ 5,700 Sold investment for cash................................................................ $ 400,000Answer the following questions: 1. What was the net cash flow from operating activities for the year? 2. What was the cash flow from (or used for) investing activities for the year? 3. What was the cash flow from ( or used for) financing activities for the year? 4. What was the net change in cash for the year? 5. If the beginning balance of cash for the year was $ 158,000, what was the balance of cash at the end of the year?